BTC$ is currently trading at 23.8k, after once again testing the stubborn resistance in the 25.2k range on Tuesday.
ETH$ is currently at 1.6k, and started playing catchup at the end of the week after some news was announced. The Ethereum developers agreed that February 26th would be the date where they will push the Sepolia testnet through the Shanghai upgrade. Sepolia is a closed testnet solely for Ethereum developers. Goerli will be the final testnet to get the Shanghai upgrade before the mainnet.
While we are on the topic of Ethereum… Coinbase announced the testnet launch of its own optimistic Layer 2 rollup, called Base (no, there will not be a network token). This came just two days after they reported earnings, beating both earnings and revenue projections (loss of $2.46 per share vs. an expected $2.55, and a revenue of $629m vs. the expected $590m).
Base will be developed using Optimism’s OP Stack, a developer toolkit for the Optimism network. With this development, Coinbase is looking to expand its product offering, allowing its less native users to directly access DeFi and other on-chain applications. Ultimately, this will benefit the entire ecosystem. Some of the first partners include Chainlink, Etherscan, Aave, MagicEden, RibbonFinance, HopProtocol, and Sushiswap. If the success of Optimism and Arbitrum (which for the first time processed more daily transactions than Ethereum) are any indication, the future should be bright for Base.
While Coinbase is in the limelight, Binance keeps disappointing.
On Thursday, the Binance Australia market closed some of its users’ derivative positions. The exchange “identified a small number of Australian users who were incorrectly classed as ‘Wholesale Investors’ on Binance” and were forced to close their positions as per Australian regulations. According to CZ, all users should be fully compensated by Binance.
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